Did you know that with over 1,500 stores, Domino's sells more pizza in India than anywhere else in the world, barring the US. The brand’s growth is just one example of how the demand for Quick Service Restaurants (QSR) is peaking in India. By 2025, the QSR market is pegged to reach Rs 827.63 billion because the model has shifted from an affordable format to comfort food. This transition in consumer perception has enhanced the addressable market in the industry.
DELICIOUS JOURNEY
Indian quick service restaurant industry revenue is estimated to grow by 20-25% in FY 2024 over FY 2023, driven by improving average daily sales (ADS) and store additions, reported ICRA.
“The market paradigm of sales has changed drastically for QSR brands. There is a huge scope of success for QSR brands in Tier II and Tier III cities as these are the emerging markets for fast food chains. As India’s largest home-grown burger chain, these cities are of utmost importance to us. They offer advantages like lower workforce acquisition expenses, cheaper raw materials, and affordable rental properties,” shared Kabir Jeet Singh, CEO and Co-founder, Burger Singh. The brand has spread across 50 cities in India.
Similarly, another homegrown QSR chain Biggies Burger that recently opened its 14th store in Bengaluru is expanding its presence deep into the city, bringing hyperlocal approach to its expansion plans. The QSR chain aims to have 350 stores across India by 2024. Biggies Burger currently has over 130 stores in the country.
This story is from the May - July 2023 edition of Retailer.
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This story is from the May - July 2023 edition of Retailer.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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